This is Turov on Timing for Friday, December 15, 2006.
The SPX advanced 12.28 points yesterday to close at 1425.49. TOT daily traders went 200% short at SPX 1410.50 on Tuesday and were stopped out at SPX 1420.50 yesterday.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 8842.84 cumulative SPX points, compared to a gain of 966.56 points in the index itself over the same period. That’s a ratio of 9.15 to one.
The super long term perspective for the stock market remains bearish (as it has been since January 2000), and it’s unlikely anything will change that for several years.
Both the long and short term models remain neutral.
The daily model is bullish today, and despite my dislike of buying into strength or into a market getting a bit manic, the bulls have proven themselves strong enough to probably propel this market to a SEVERE overbought condition before selling off. TOT daily traders are advised to go 300% long at the very first sign of strength – SPX 1426 stop. If you go long, use a disaster-only protective sell stop at SPX 1408. If not stopped out, carry your position over the weekend and into Monday.
Have a great weekend, thanks for the opportunity to be of service, and I’ll email you again in 72 hours.
Turov on Timing is Copyright © 2006 by Turov Investment Group Inc. All rights reserved. Turov on Timing is for personal use only. All caveats and advisories that appear in the monthly Turov on Timing apply equally to this email. Re-publication and distribution is strictly prohibited. No part may be reproduced without the permission of the Turov Investment Group Inc.